Cherry SE and Contour Design agreed on the transition of CHERRY’s hygiene peripherals business

Munich and Copenhagen, 8 May 2025 – German Cherry SE and Danish Contour Design have signed a contract on the strategic transition of the CHERRY hygiene peripherals business formerly known as “Active Key” following a jointly agreed process aimed at securing long-term potential and operational continuity. The transaction is expected to close at the end of May.

Active Key was founded in 2005 and since then has been offering solutions for hygienic input devices that are characterized by particularly high durability, ease of use and reliability. Chip card and magnetic card readers are also part of the portfolio. The business was acquired by CHERRY, a leading developer and manufacturer of computer input devices and digital health solutions, in the year 2021.

The acquisition complements Contour Design’s brand portfolio and strengthens their position within specialized verticals such as healthcare, industrial and public sectors where hygiene and operational reliability are critical factors. Contour sees great growth opportunities in different regions within Europe, the USA and the Middle East and expects to invest in both sales, marketing and products to seize the opportunity. The acquiring party is majority-held and backed by Polaris Private Equity, which is also headquartered in Copenhagen.

The purchase price amounts to EUR 21 million and will be settled through a combination of a fixed cash component and a variable earn-out arrangement. The earn-out is contingent upon the achievement of defined financial performance targets over an agreed reference period. This structure reflects the shared commitment of both parties to the long-term success and integration of Active Key. The transaction includes the transfer of all employees and relevant assets. Subject to regulatory approvals, the closing is expected to take place at the end of May 2025.

"We just announced changes according to the switch business while focusing even more on Office, Gaming and Security Finished Goods and Digital Health,” commented Oliver Kaltner, CEO of Cherry SE. "The success of the hygiene peripherals business is based on a trustful set up with the team, our partners and suppliers as foundation to further development of the business. Contour Design is the ideal strategic partner to take over this business and lead it to further growth. By selling this business, we are improving our own cash position, primarily to finance the restructuring of the group and future investments in digital health.”

"The timing and strategic fit for the acquisition is ideal for us” added Kenneth Nielsen, CEO of Contour Design Nordic A/S. “This market segment holds an attractive outlook with growth potential in Germany as the core market but also in Europe, USA and the Middle East countries. We see a bright future where we can leverage the existing resources in the Contour team hand in hand with the strong team we are adding from CHERRY. In this new constellation, we plan to reintroduce the Active Key brand as the focus for this new business. For us, this is a growth rather than a synergy case. We believe there are a lot of businesses to win."

About CHERRY

Cherry SE [ISIN: DE000A3CRRN9] is a global manufacturer of computer input devices such as keyboards, mice, microphones, and headsets for applications in office, gaming, and industry for hybrid work, as well as hardware and software solutions in digital healthcare. Since its founding in 1953, CHERRY has been synonymous with innovative and durable high-quality products developed in-house specifically to meet customer needs.

CHERRY’s operational headquarters are in Germany (Auerbach in der Oberpfalz) and it employs staff in development, services, logistics, and production sites in Germany (Auerbach), China (Zhuhai), and Austria (Vienna), as well as in multiple sales offices in Germany (Munich, Auerbach), France (Paris), Sweden (Landskrona), the USA (Chicago), China (Shanghai) and Taiwan (Taipei).

For more information, visit: https://ir.cherry.de/en/

About Contour Design

Contour Design is a leader in developing, designing, and marketing innovative ergonomic input devices, including RollerMouse, UniMouse and SliderMouse. Trusted by professionals worldwide, Contour products are engineered to reduce physical strain, prevent injuries, and enhance comfort and productivity during computer use. Contour Design is majority-owned by Polaris Private Equity.

Contact

Cherry SE

Nicole Schillinger

Investor Relations

P: Rosental 7, c/o Mindspace, 80331 Munich

T: +49 (0) 9643 2061 848

E: ir@cherry.de